The stock price of Tenet Healthcare Corp. (NYSE: THC) has jumped by 2.80 compared to previous close of 134.90. Despite this, the company has seen a gain of 3.97% in its stock price over the last five trading days. zacks.com reported 2024-07-23 that Tenet (THC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company’s earnings prospects. This might drive the stock higher in the near term.
Is It Worth Investing in Tenet Healthcare Corp. (NYSE: THC) Right Now?
Tenet Healthcare Corp. (NYSE: THC) has a price-to-earnings ratio that is above its average at 5.36x. The stock has a 36-month beta value of 2.15. Opinions on the stock are mixed, with 1 analysts rating it as a “buy,” 3 as “overweight,” 12 as “hold,” and 0 as “sell.”
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The public float for THC is 95.16M, and at present, short sellers hold a 4.83% of that float. On July 24, 2024, the average trading volume of THC was 1.28M shares.
THC’s Market Performance
THC stock saw an increase of 3.97% in the past week, with a monthly gain of 3.30% and a quarterly increase of 46.21%. The volatility ratio for the week is 3.07%, and the volatility levels for the last 30 days are 3.00% for Tenet Healthcare Corp. (THC). The simple moving average for the last 20 days is 3.87% for THC’s stock, with a simple moving average of 46.58% for the last 200 days.
Analysts’ Opinion of THC
Many brokerage firms have already submitted their reports for THC stocks, with Robert W. Baird repeating the rating for THC by listing it as a “Outperform.” The predicted price for THC in the upcoming period, according to Robert W. Baird is $153 based on the research report published on May 30, 2024 of the current year 2024.
Wolfe Research, on the other hand, stated in their research note that they expect to see THC reach a price target of $122. The rating they have provided for THC stocks is “Outperform” according to the report published on March 27th, 2024.
Barclays gave a rating of “Overweight” to THC, setting the target price at $113 in the report published on March 06th of the current year.
THC Trading at 4.15% from the 50-Day Moving Average
After a stumble in the market that brought THC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.58% of loss for the given period.
Volatility was left at 3.00%, however, over the last 30 days, the volatility rate increased by 3.07%, as shares surge +1.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +8.62% upper at present.
During the last 5 trading sessions, THC rose by +3.97%, which changed the moving average for the period of 200-days by +126.45% in comparison to the 20-day moving average, which settled at $133.65. In addition, Tenet Healthcare Corp. saw 83.51% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at THC starting from FISHER RICHARD W, who sale 1,400 shares at the price of $132.24 back on Jun 10 ’24. After this action, FISHER RICHARD W now owns 16,227 shares of Tenet Healthcare Corp., valued at $185,136 using the latest closing price.
KERREY J ROBERT, the Director of Tenet Healthcare Corp., sale 9,500 shares at $133.40 during a trade that took place back on May 31 ’24, which means that KERREY J ROBERT is holding 0 shares at $1,267,339 based on the most recent closing price.
Stock Fundamentals for THC
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.47 for the gross margin
The net margin for Tenet Healthcare Corp. stands at 0.13. The total capital return value is set at 0.11. Equity return is now at value 111.78, with 9.36 for asset returns.
Based on Tenet Healthcare Corp. (THC), the company’s capital structure generated 0.79 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 3.73. The interest coverage ratio of the stock is 2.95.
Currently, EBITDA for the company is 3.3 billion with net debt to EBITDA at 2.88. When we switch over and look at the enterprise to sales, we see a ratio of 1.15. The receivables turnover for the company is 6.64for trailing twelve months and the total asset turnover is 0.72. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.44.
Conclusion
To sum up, Tenet Healthcare Corp. (THC) has seen a better performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
